OBAMA BUYS $40 MILLION ESTATE IN HAWAII

Weekly World News ^ | 10/23/2012 | Frank Lake

[VanDeKoik]

Compared to what we pass off as newspapers now?

[TomGuy]

Wait a sec, he only earns $400,000 a year as Preisdent. I’m guessing he had a lot saved up?

Recall in 2008 how McCain was always low on campaign funds.

However, when he re-ran for his Senate seat in 2010, he 'borrowed' $20 million from his presidential campaign fund.

==

RANT: That $$$ was for his president run. Had he used it for its intended purpose, he might have one. What gives him the right to use it for a race for another position????

Too bad McCain didn't pass some type of campaign reform during his Senate career. [/sarcasm]

[Paladin2]

"Hawaii is about 5 hours from LAX by air ... a little over 2500 miles. Sydney Australia from LAX is about 12 hours. "

you're neglecting TSA delays and on the ground delays when AF1 is near/at the airport.

[BuffaloJack]

I assume that this purchase constitutes Obama’s concession speech.

[Safetgiver]

you don’t want the President to be homeless in January, do you?” .....Uh, actually YES.

[trublu]

$40 million? The POTUS makes $400k per year. His 2 years as US Senator earned him a total of about $400k.

To quote himself, “The math doesn’t work.”

[2010Freeper]

The Obamas never bought anything themselves! They will milk the system, donors, etc. and have whatever mansion gifted to them. I just hope that it is not with taxpayer dollars that they get from all the stimulus green job investments kickbacks!!!
The good news is that Hawaii is as far away as possible within the US.
I would prefer an all expense paid housing in orange jumpsuits for both our current White House inhabitants!

[StAnDeliver]

"The story has been out there for several weeks. Initially, the Obamas were rumored to be looking at one 'estate' but the deal fell through when word leaked out and the owner(s) didn't want the publicity. Thus, they settled on a 2nd 'estate' until they can construct their own multi-million $ home."

Wait, are you saying Pritzger's Lanikai purchase fell through? Where did you read that?

[freekitty]

OK, what’s the real story? It was reported they weren’t buying this estate.

[Smokeyblue]

Just like a Banana Republic. The junta leaders retire to resplendent luxury in exile.

[Mountain Mary]

Since they dont’ like each other, I hope there is a guest house.
Have heard about this mansion plan from several other sources. It makes sense. They love Ha. and Marion runs the show and wants out of DC badly.

But Aunt E. and Erkel cohabitating for any length of time? Not likely.
Bam has surely already checked out the gay nightclubs.

[CreviceTool]

I lived in Hawaii and I cannot find a local source to corroborate this story. Plus, the amount supposedly paid is bouncing around from $32 to $40 million now!?!

I call Bravo Sierra until I see something real.

[CheneyChick]

At least he’ll have Obamacare medical coverage. Oh wait, never mind.

[RummyChick]

Hillbuzz said it is a done deal but it is not that particular estate.

The woman behind Hyatt is helping finance the deal on the house.

[MEGoody]

Um, that picture of the lady holding the picture of the mansion - is that supposed to be Michelle or her mother?

[DJtex]

I hear that Penny Pritzker, the Hyatt heiress from Chicago is buying this for them with some other donors.

The deal on this house was queered by early publicity so they are moving into a “not as nice” house while a new mansion is built for them near the new Obama Presidential Library on Oahu.

[beethovenfan]

I hope it has roaches.

[MarkL]

IIRC, if you gift more than $11,000 in a year to an individual, anything over that is hit by a "gift tax" of 55%, and that is paid by the giver. The recipient is not liable for any taxes. I believe that the gift tax can be waived for up to 1 million dollars, however, that is then subtracted from the giver's death tax exemption. So if the giver gives 1 million dollars in total, the death tax kicks in at the first dollar of the giver's estate when he or she dies.

But I'm sure that none of that will matter. Laws don't apply to scumbags like them. And of course, we'll keep on paying for them.

Mark

[IbJensen]

That be Moochell’s Mammy.